BOSTON (TheStreet) -- A disastrous auction of German 10-year bunds leads your quick fix of company, market, economic and investing news for Wednesday, Nov. 23.
Wednesday's 5 Biggest Stories
I mean, if no one is buying German bunds at auction, what is worth buying in Europe? [WSJ]
Quel surprise! Fitch Ratings is now warning that France may lose its triple-A rating because it can't handle any more shocks. [Zero Hedge]Manufacturing in China is now in contraction: China PMI comes in at a reading of 48, a 32-month low. [Global Macro Monitor] Speaking of manufacturing contractions, eurozone industrial orders fell in September by the biggest amount since December 2008. [Reuters] The Fed will now stress-test U.S. banks for European exposure. Like Festivus, this is becoming an annual airing of grievances for the central bank. [FT]
Quote of the Day"I don't see how the party that says it's the party of the family is going to adopt an immigration policy which destroys families which have been here a quarter-century. I'm prepared to take the heat for saying let's be humane in enforcing the law," GOP presidential hopeful Newt Gingrich said of immigration law reform during a televised debate on CNN. [Fox News]
Company NewsDeere (DE) shows why life on the farm isn't so bad. [Bloomberg] After issuing a "strong sell" on Chinese advertising company Focus Media (FMCN), short seller Muddy Waters gets hacked. [CNBC] Apple's (AAPL) future gets cloudier, but in a good way. [WSJ]
MarketsGoing out shopping on Black Friday? You'll be one of 152 million, a 10% increase from a year ago. [Bloomberg] A look at whether eurobonds are a good idea or not. [The Big Picture] Bank of America's economics team now says there is a 40% chance the U.S. falls into recession, up from 35%. [Globe and Mail]
Investment StrategyThe best dividend stocks for next year. [TheStreet] Even after the stock's precipitous drop, some say Netflix (NFLX) is still a screaming short. [Dragonfly Capital] Fees at Fidelity's Magellan Fund are dropping as performance lags. [Reuters]
Odds and EndsKeep an eye out later today on this page for my NFL picks against the spread, including a few of the Turkey Day games. [TheStreet] Speaking of which: Happy Thanksgiving. Here's a John Lennon song that describes my lunch for Friday. [YouTube] -- Written by Robert Holmes in Boston.
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